Boardwalk REIT Releases Its 2024 ESG Report
Boardwalk Real Estate Investment Trust (TSX: BEI.UN) has proudly announced the release of its sixth annual Environmental, Social and Governance (ESG) Report. This comprehensive document showcases the initiatives and achievements of the Trust in the realm of sustainability for the year 2024.
Key Highlights from the ESG Report
The 2024 ESG Report from Boardwalk includes several impressive highlights that underscore its commitment to responsible practices:
- Invested $23 million in upgrades to enhance energy efficiency.
- Realized a significant 14.4% reduction in greenhouse gas emissions and a notable 11.7% decrease in water use intensity since 2019.
- Improved energy management across its portfolio, with 91.2% of total suites equipped with direct metering or submetering for electricity, along with 19.5% for natural gas.
- Enhanced resident engagement, achieving an impressive Net Promoter Score of 83.
- Contributed over $300,000 in donations and scholarships to support charitable initiatives.
- Introduced a supplier ESG survey while promoting environmentally friendly products within its supply chain.
- Earned recognition as one of Canada’s Most Responsible Companies by a notable publication and included among Alberta's Top 80 Employers, as well as being acknowledged by the Globe and Mail's Women Lead Here initiative.
CEO's Commitment to Sustainability
Sam Kolias, the CEO and Chairman of Boardwalk, expresses deep pride in the organization's dedication to ESG principles. "Our commitment to ESG is grounded in purpose, care, and responsibility," Kolias states. He highlights the integration of environmental and social governance practices into Boardwalk's operations as essential for building stronger and more inclusive communities. Kolias encourages stakeholders to read the ESG Report for a closer look at the company's progress and future priorities.
About Boardwalk REIT
Boardwalk REIT is dedicated to being Canada’s most welcoming community provider, aiming to be the first choice for individuals seeking a place to work, invest, and call home. With a strong presence across more than 200 communities, the Trust manages around 34,000 residential suites, covering over 29 million net rentable square feet. Boardwalk has a proven history of enhancing community living, ensuring that love always thrives.
The company operates under diverse brands: Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle. This structure effectively addresses the varying needs of their diverse demographic, catering to residents at all stages of life. With a disciplined approach to capital allocation and community management, Boardwalk is committed to providing exceptional service and experience to its residents, leading to high retention rates and competitive operating results.
Continuous Commitment to Stakeholders
Boardwalk's commitment to its stakeholders is evident through its focus on value creation, including stable investment returns and cash flow generation. The Trust Units are traded on the Toronto Stock Exchange under the ticker symbol BEI.UN, and more information can be found on its official site.
Frequently Asked Questions
What is the focus of Boardwalk's 2024 ESG Report?
The focus is on the initiatives and achievements related to environmental, social, and governance practices implemented in 2024.
How much did Boardwalk invest in energy-efficient upgrades?
Boardwalk invested $23 million in energy-efficient upgrades.
What notable reductions did Boardwalk achieve?
They achieved a 14.4% reduction in GHG emissions and an 11.7% reduction in water usage intensity since 2019.
How does Boardwalk engage with its residents?
Boardwalk improved resident engagement, achieving a Net Promoter Score of 83, indicating high resident satisfaction.
In what ways does Boardwalk support charitable initiatives?
Boardwalk provided over $300,000 in charitable donations and scholarships to support local initiatives.
